Milbank LLP partner of the London Real Estate Group Miles Flynn was quoted in an opinion piece in Real Estate Capital Europe, discussing the back leverage market in Europe. In the article, programmatic back leverage is becoming the practical way to bring scale and consistency to Europe’s bespoke back leverage market, giving lenders and borrowers a repeatable framework for deploying capital across multiple loans.
As Miles says, the prevalence of programmatic lines reflects the increased liquidity for the product. “We have seen an increase in both back leverage providers and borrowers putting in place facilities or programmes which are structured to facilitate back leverage on a multi-jurisdictional, multi-currency and broad asset class basis," Miles explained.
To read the full article, please click here. (Real Estate Capital Europe subscription may be required.)
